Residential Solar Energy

Residential Solar Energy

Global Residential Solar Energy Storage Market to Reach $62.2 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Residential Solar Energy Storage estimated at US$8.7 Billion in the year 2020, is projected to reach a revised size of US$62.2 Billion by 2027, growing at aCAGR of 32.3% over the period 2020-2027. Li-ion Batteries, one of the segments analyzed in the report, is projected to record 34.2% CAGR and reach US$43.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lead-Acid Batteries segment is readjusted to a revised 28.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.4 Billion, While China is Forecast to Grow at 42.8% CAGR

The Residential Solar Energy Storage market in the U.S. is estimated at US$2.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.6 Billion by the year 2027 trailing a CAGR of 42.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 26% and 28.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 27.2% CAGR.

Select Competitors (Total 46 Featured) -

• Canadian Solar, Inc.
• Hanwha Q CELLS Co., Ltd.
• Ja Solar Co. Ltd.
• JinkoSolar Holding Co., Ltd.
• Renesola Co. Ltd.
• Sharp Corporation
• SolarCity
• SunPower Corporation
• Trina Solar Ltd.
• Yingli Green Energy Holding Co., Ltd.

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